Half of all businesses still only password-protect the company IP and financial data. Those offering additional factors are choosing the weakest and most outdated options including static questions and one-time passwords.

Those are two of the major findings from the Javelin Strategy & Research "2017 State of Authentication Report," sponsored by FIDO Alliance.

For better protection, Javelin deems high-assurance strong authentication, which merges multifactor authentication with public key cryptography, as the strongest authentication option available and the one it recommends businesses adopt moving forward. The report maintained this method is not susceptible to phishing, man-in-the-middle and/or other attacks targeting credentials — which are known vulnerabilities with passwords, static questions and OTPs.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).